159 E King St

Winona, MN · View the listing ↗

Cash flows

31 photos

Photos, via Realtor.com.

Asking price: $230,000
Monthly cash flow: $406
Estimated rent: $3,150/mo
Break-even price: $306,213

Adjust the numbers See the full breakdown

The numbers

Edit rents, costs and assumptions

Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).

The deal

Price: $230,000
Cash to close: $52,900
Price per unit: $115,000
GRM: 6.1

Each month

Cash flow: $406/mo
Cash-on-cash: 9.2%
Cap rate: 8.5%
DSCR: 1.33×

Break-even

Price that breaks even: $306,213
Rent that breaks even: $2,616/mo

Long run

Year 30: property vs stocks: $1.60M vs $403K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$3,150
Vacancy (6%)	−$189
Collected	$2,961
Property tax Listing	−$316
Insurance Estimate	−$218
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$284
Capital reserve (9% of rent)	−$284
Net operating income	$1,630
Mortgage (principal + interest)	−$1,224
Cash flow	$406
Principal paid down (equity, not cash)	$156

Cash flow each year

Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.

30 years

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$558,270
Minus 6% selling cost	−$33,496
Minus loan still owedTenants' rent paid down all $207,000 of principal by year 30	$0
Plus rental profits, invested at 7%$391,347 of profit by year 30, before investment growth	$863,662
What you'd walk away with	$1,388,436
If you put the same money in stocks
Cash to close ($29,900) invested at 7%	$227,606
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$227,606
Building minus stocks	$1,160,830

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$558,270
Minus 6% selling cost	−$33,496
Minus loan still owedTenants' rent paid down all $207,000 of principal by year 30	$0
Plus rental profits, invested at 7%$243,366 of profit by year 30, before investment growth	$476,942
What you'd walk away with	$1,001,716
If you put the same money in stocks
Cash to close ($29,900) invested at 7%	$227,606
Monthly shortfalls ($4,159 total by yr 30) investedThe money you'd have put into the building while it lost money	$27,804
What you'd walk away with	$255,411
Building minus stocks	$746,305

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$533,998
Minus 6% selling cost	−$32,040
Minus loan still owedTenants' rent paid down all $198,000 of principal by year 30	$0
Plus rental profits, invested at 7%$413,173 of profit by year 30, before investment growth	$933,275
What you'd walk away with	$1,435,233
If you put the same money in stocks
Cash to close ($28,600) invested at 7%	$217,710
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$217,710
Building minus stocks	$1,217,523

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$533,998
Minus 6% selling cost	−$32,040
Minus loan still owedTenants' rent paid down all $198,000 of principal by year 30	$0
Plus rental profits, invested at 7%$262,485 of profit by year 30, before investment growth	$528,828
What you'd walk away with	$1,030,786
If you put the same money in stocks
Cash to close ($28,600) invested at 7%	$217,710
Monthly shortfalls ($1,452 total by yr 30) investedThe money you'd have put into the building while it lost money	$10,077
What you'd walk away with	$227,788
Building minus stocks	$802,998

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$558,270
Minus 6% selling cost	−$33,496
Minus loan still owedTenants' rent paid down all $184,000 of principal by year 30	$0
Plus rental profits, invested at 7%$452,644 of profit by year 30, before investment growth	$1,077,145
What you'd walk away with	$1,601,919
If you put the same money in stocks
Cash to close ($52,900) invested at 7%	$402,688
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$402,688
Building minus stocks	$1,199,231

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$558,270
Minus 6% selling cost	−$33,496
Minus loan still owedTenants' rent paid down all $184,000 of principal by year 30	$0
Plus rental profits, invested at 7%$300,504 of profit by year 30, before investment growth	$662,620
What you'd walk away with	$1,187,394
If you put the same money in stocks
Cash to close ($52,900) invested at 7%	$402,688
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$402,688
Building minus stocks	$784,706

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$533,998
Minus 6% selling cost	−$32,040
Minus loan still owedTenants' rent paid down all $176,000 of principal by year 30	$0
Plus rental profits, invested at 7%$471,805 of profit by year 30, before investment growth	$1,137,476
What you'd walk away with	$1,639,434
If you put the same money in stocks
Cash to close ($50,600) invested at 7%	$385,180
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$385,180
Building minus stocks	$1,254,254

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$533,998
Minus 6% selling cost	−$32,040
Minus loan still owedTenants' rent paid down all $176,000 of principal by year 30	$0
Plus rental profits, invested at 7%$319,665 of profit by year 30, before investment growth	$722,951
What you'd walk away with	$1,224,909
If you put the same money in stocks
Cash to close ($50,600) invested at 7%	$385,180
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$385,180
Building minus stocks	$839,729

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$558,270
Minus 6% selling cost	−$33,496
Minus loan still owedTenants' rent paid down all $172,500 of principal by year 30	$0
Plus rental profits, invested at 7%$480,188 of profit by year 30, before investment growth	$1,163,871
What you'd walk away with	$1,688,645
If you put the same money in stocks
Cash to close ($64,400) invested at 7%	$490,229
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$490,229
Building minus stocks	$1,198,416

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$558,270
Minus 6% selling cost	−$33,496
Minus loan still owedTenants' rent paid down all $172,500 of principal by year 30	$0
Plus rental profits, invested at 7%$328,047 of profit by year 30, before investment growth	$749,346
What you'd walk away with	$1,274,120
If you put the same money in stocks
Cash to close ($64,400) invested at 7%	$490,229
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$490,229
Building minus stocks	$783,891

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$533,998
Minus 6% selling cost	−$32,040
Minus loan still owedTenants' rent paid down all $165,000 of principal by year 30	$0
Plus rental profits, invested at 7%$498,151 of profit by year 30, before investment growth	$1,220,431
What you'd walk away with	$1,722,389
If you put the same money in stocks
Cash to close ($61,600) invested at 7%	$468,915
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$468,915
Building minus stocks	$1,253,474

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$533,998
Minus 6% selling cost	−$32,040
Minus loan still owedTenants' rent paid down all $165,000 of principal by year 30	$0
Plus rental profits, invested at 7%$346,011 of profit by year 30, before investment growth	$805,907
What you'd walk away with	$1,307,864
If you put the same money in stocks
Cash to close ($61,600) invested at 7%	$468,915
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$468,915
Building minus stocks	$838,949

Future dollars. At 3% inflation, divide year-30 figures by about 2.4 for today's buying power. Rental profits are assumed invested, not spent.

30 years: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $1.60M, stocks $403K. The property wins.

Comparable rentals

The closest rental listings with each unit's bedroom count, as of 2026-10-04. The estimate is the median asking rent of every rental we found nearby (the count is shown for each); houses are left out. Asking rents from Realtor.com rental listings, not signed leases.

4 bed estimate $1,575/mo · range $1,350–$1,975 · 33 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
373 Main St, Winona	$360	4 / 2	—	0.3 mi	2022-04-06	Apartment
826 21st Ave SE, Rochester	$1,395	4 / 2	1,240	39.6 mi	2026-04-30	Apartment
1730 Restoration Rd SW, Rochester	$1,948	4 / 2	1,494	41.8 mi	2026-08-28	Apartment
2998 Rivers Ridge Dr, Red Wing	$2,190	4 / 3.5	2,607	58.8 mi	2026-07-25	Apartment
422 Division St S, Northfield	$2,800	4 / 2	1,567	80.6 mi	2026-01-30	Apartment
216 James Ave, Mankato	$2,200	4 / 2	1,200	117.8 mi	2026-04-16	Apartment
520 S 2nd St, Mankato	$2,080	4 / 1	1,525	117.8 mi	2026-06-01	Apartment
526 S 2nd St Apt 1, Mankato	$2,475	5 / 2	—	117.8 mi	2022-11-15	Apartment
526 S 2nd St Apt 3, Mankato	$1,980	4 / 2	—	117.8 mi	2026-10-01	Apartment
224 James Ave, Mankato	$1,979	4 / 2	1,700	117.8 mi	2026-03-03	Apartment

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: Realtor.com rental listings. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 159 KING ST E

Opportunities

None found.

Questions for the agent

Can we see the current leases and a rent roll, with move-in dates?
What did water/sewer/trash, heat and electric cost the owner over the last 12 months?
How old are the roof, boiler or furnaces, water heaters and electrical panels?
Is the building licensed as a rental for this many units, and when was the last city inspection?
Any special assessments pending, and will the seller pay them off at closing?

Standard questions worth asking about any building.

What the records say

Where each number comes from

Property tax / yr Listinglisting, tax year 2026. The tax the listing states. If the seller lives there it may be at the lower homestead rate; an investor owner pays the non-homestead rate, often 20–40% more on the owner's unit.	$3,798
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,612
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$170
Heat / mo Assumptionassumption. tenants pay heat; confirm with the agent	$0
Lawn care / mo Assumptionassumption. $120/mo for 6 months, spread over 12; no snow removal	$60
Repairs / capital reserve Rulerule. built 1900: +1 pt capital reserve; 8 bedrooms: +1 pt repairs for wear	9% / 9%

Status history

2026-08-27Price cut at $230,000 (was $250,000) · from listing history
2026-08-27New at $230,000

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$3,798
County	Winona
Parcel number	322650200

As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.

Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Winona on rental licensing before you buy.